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CALFEE, HALTER & GRISWOLD LLP PROFIT SHARING TRUST AND PLAN Contribution & Employer Match

CALFEE, HALTER & GRISWOLD LLP PROFIT SHARING TRUST AND PLAN Contribution & Employer Match

CALFEE HALTER & GRISWOLD, LLP provides the following retirement savings benefits to its employees:

CALFEE, HALTER & GRISWOLD LLP PROFIT SHARING TRUST AND PLAN Average Participant Retirement Account Value

In 2023, the average participant retirement account value for CALFEE, HALTER & GRISWOLD LLP PROFIT SHARING TRUST AND PLAN is $515,616.00

CALFEE, HALTER & GRISWOLD LLP PROFIT SHARING TRUST AND PLAN Estimated Average Employee Contribution Amount

In 2023, the estimated average employee contribution amount per participant for CALFEE, HALTER & GRISWOLD LLP PROFIT SHARING TRUST AND PLAN is $5,336.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
341,529.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 5,336.00 in CALFEE, HALTER & GRISWOLD LLP PROFIT SHARING TRUST AND PLAN, assuming a 10%* annual return.

2023 & 2024 401(k) contribution limits by IRS

 Pretax and roth employee contributionsEmployee and employer contributions combinedCatch-up contributions (in addition to the employee and employer combined limit, age 50 and over)
401(k) contribution limit for 2023$22,500$66,000$7,500
401(k) contribution limit for 2024$23,000$69,000$7,500

$1,440,056: this is the amount you will have saved 20 years later if you contribute the maximum of $22,500 annually for 20 years, assuming a 10%* annual return.

$4,224,165: for those who can maximize employee and employer annual $66,000 contributions for 20 years, assuming a 10%* annual return, you will be 3 times richer!

Use the 401(k) Savings Calculator to determine how much your contributions will accumulate over time.

Employer match in CALFEE, HALTER & GRISWOLD LLP PROFIT SHARING TRUST AND PLAN

An employer match is deemed as ‘free’ money wherein your employer contributes additional funds to your allocated retirement savings plan. The matching amount can frequently be several percentage points of your compensation. Don’t avoid this free salary ‘raise’.

CALFEE, HALTER & GRISWOLD LLP PROFIT SHARING TRUST AND PLAN Total Employer Contribution and Match Rate

In 2023, CALFEE, HALTER & GRISWOLD LLP PROFIT SHARING TRUST AND PLAN allocates $3,738,851.00 to match its employees' contributions, providing an employer match rate of 177.60% of their contributions

CALFEE, HALTER & GRISWOLD LLP PROFIT SHARING TRUST AND PLAN Estimated Average Employer Match

In 2023, the estimated average employer match for an employee in CALFEE, HALTER & GRISWOLD LLP PROFIT SHARING TRUST AND PLAN is approximately $10,105.00
Investing in this additonal $10,105.00 for 20 years would give you extra $646,720.00, assuming a 10% annual return.

CALFEE, HALTER & GRISWOLD LLP PROFIT SHARING TRUST AND PLAN Contribution & Match Policy

1. Employee Contribution Rates: Employees can contribute a portion of their future compensation to the plan.

2. Employer Match/Contribution Conditions: The matching contribution for non-partner full participants is the lesser of 25% of the participant's 401(k) deferral or 1% of eligible compensation.

3. Vesting Schedule/Eligibility: The amounts credited to all accounts established for any employee are fully vested and non-forfeitable at all times. Eligibility requires completion of two years of service with 1,000 or more hours worked in each of the two years, attainment of age twenty-one, and other specified conditions.

4. Allows Roth 401(k) contribution: Yes.

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